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公募加速“出海”有望带来第二增长曲线
Zheng Quan Ri Bao· 2025-09-18 16:21
Group 1 - Huatai-PB Asset Management (International) Limited has obtained licenses for securities trading, providing advice on securities, and asset management from the Hong Kong Securities and Futures Commission [1] - The establishment of Huatai-PB International is part of a broader trend where public funds are expanding overseas, with several firms like Yongying Fund and Ruifeng Fund also setting up subsidiaries in Hong Kong [1] - The "going out" strategy is seen as a second growth curve for public funds, allowing them to enter larger markets and diversify income, which can enhance financial resilience [1][2] Group 2 - The number and scale of QDII (Qualified Domestic Institutional Investor) funds have significantly increased, with the number rising from 168 funds and 128.89 billion yuan in 2020 to 321 funds and 730.04 billion yuan by July this year [2] - As of August 2025, the total approved QDII quota reached 170.87 billion USD, with major players like E Fund, Huaxia Fund, and Southern Fund leading in quota approvals [2] - Twelve public fund institutions, including CICC Fund and Anxin Fund, are still awaiting approval for QDII business qualifications [3] Group 3 - Public funds face challenges in their overseas expansion, necessitating improvements in international research capabilities, compliance operations, and resource allocation [3] - Strengthening international investment research capabilities and establishing a comprehensive risk management framework are essential for public funds to succeed in overseas markets [3] - Optimizing cross-border service capabilities and enhancing collaboration with overseas channels and custodians are crucial for developing differentiated products that meet the needs of both domestic and international investors [3]
公募“出海”,新进展!
Zhong Guo Ji Jin Bao· 2025-09-16 07:32
【导读】华泰柏瑞基金香港子公司获香港证监会核发牌照 华泰柏瑞基金香港子公司华泰柏瑞资管获批香港证监会1号、4号和9号牌照。 华泰柏瑞资管获批1号、4号和9号牌照 香港证监会官网显示,华泰柏瑞基金香港子公司华泰柏瑞资产管理(国际)有限公司近日获得香港证监会(SFC)核发的1号(证券交易)、4号(就证券 提供意见)及9号(提供资产管理)牌照。 华泰柏瑞基金现任副总经理柳军及前任副总经理田汉卿为香港子公司持牌负责人。 2024年末,证监会网站发布的批复文件显示,11月29日,证监会核准华泰柏瑞基金以自有资金在香港特别行政区设立华泰柏瑞资产管理(国际)有限公 司。公司于2025年1月成立,注册资本为1亿港元。 2023年10月,在递交境外设立、收购、参股经营机构审批申请时,华泰柏瑞基金表示香港子公司设立后,将主要考虑两类产品:一是为中国投资人提供全 球资产配置的工具;二是为海外投资人提供投资中国资本市场的配置工具。具体的产品会根据市场情况和投资人需求择机推出。 公募积极"出海" 近年来,公募基金公司积极"出海",在中国香港、英国、美国和新加坡等地设立分支机构。 2023年,睿远基金、永赢基金旗下香港子公司正式开业,嘉 ...
公募“出海”,新进展!
中国基金报· 2025-09-16 07:26
【 导读 】 华泰柏瑞 基金 香港子公司获香港证监会核发牌照 中国基金报记者 储是 华泰柏瑞 基金 香港子公司 华泰柏瑞资管 获批 香港证监会 1号、4号和9号牌照 。 华泰柏瑞资管 获批1号、4号和9号牌照 香港证监会官网显示, 华泰柏瑞基金香港子公司华泰柏瑞资产管理 ( 国际 ) 有限公司 近日 获得香港证监会 ( SFC ) 核发的1号 ( 证券交易 ) 、4号 ( 就证券提供意见 ) 及9号 ( 提供资产管理 ) 牌照。 华泰柏瑞基金现任副总经理柳军及前任副总经理田汉卿为香港子 公司 持牌负责人。 2024年末 ,证监会网站发布的批复文件显示,11月29日,证监会核准华泰柏瑞基金以自有资金在香港特别行政区设立华泰柏瑞资产管理 (国际)有限 公司。公司于2025年 1月成立,注册资本 为 1亿港元 。 2023年 10月, 在 递交境外设立、收购、参股经营机构审批申请 时, 华泰柏瑞基金 表示 香港子公司设立后,将主要考虑两类产品:一 是为中国投资人提供全球资产配置的工具;二是为海外投资人提供投资中国资本市场的配置工具。具体的产品会根据市场情况和投资人需 求择机推出。 公募积极"出海" 近 年来 ,公募 ...
易方达落子澳门,公募基金 “出海” 加速
Sou Hu Cai Jing· 2025-08-16 17:27
Core Viewpoint - E Fund is accelerating its internationalization strategy by planning to establish an overseas subsidiary in Macau, which has already been filed with the China Securities Regulatory Commission (CSRC) and will soon apply to the Monetary Authority of Macao for approval [1][2] Group 1: International Expansion - E Fund's move to Macau is part of a broader trend among public funds in China, with several institutions like Guangfa Fund and Zhuque Fund also applying to set up overseas subsidiaries [1][2] - The trend of public funds "going abroad" has historical roots dating back to 2008, when Southern Eastern Asset Management was established in Hong Kong, marking the beginning of overseas exploration for public funds [2] - Currently, there are approximately 20 overseas subsidiaries established by domestic public funds, with E Fund being one of the earliest to set up its first overseas subsidiary in Hong Kong in 2008 [2] Group 2: Domestic and Cross-Border Developments - In addition to its overseas plans, E Fund has been active in domestic and cross-border business, establishing a wholly-owned subsidiary in Guangzhou focused on securities investment fund sales and investment advisory services [3] - E Fund has a strong presence in the investment advisory sector, with a professional team of over 100 people and has served more than 120,000 individual clients and over 100 institutional clients by the end of 2024 [3] Group 3: Cross-Border Business and Product Offerings - E Fund's Hong Kong subsidiary has developed a mature layout, holding licenses for securities consulting and asset management, providing a range of services including fixed income, equity, index, and alternative investments [5] - The company is expanding its international market presence through cross-border ETF collaborations, with products launched in Brazil and Singapore linked to E Fund's ETFs [5] Group 4: Policy Support and Industry Challenges - The acceleration of public funds "going abroad" is supported by clear policies from the CSRC, which encourages qualified fund companies to establish overseas subsidiaries to enhance their service capabilities for global investors [6] - The trend is driven by both the recovery of the Chinese economy attracting international investment and the increasing demand for diversified international investments among domestic residents [9] - Challenges faced by Chinese institutions include brand influence, cultural differences, and the need for enhanced international professional capabilities, with historical examples of failures due to these issues [9]
从可选项到必答题 公募基金加速“扬帆出海”
Core Insights - The public fund industry in China has entered its 17th year of "going global," with the recent approval of a new overseas subsidiary by Xingzheng Global Fund, which has a scale of 650 billion yuan [1] - The industry is focusing on enhancing its capabilities to serve both domestic and international investors, aiming to become a first-class investment institution globally [1] Industry Development - The early stage of the public fund industry primarily focused on "bringing in" foreign investments, but has now shifted towards "going out" to expand overseas operations [1][2] - The first overseas subsidiary was established by Southern Fund in Hong Kong in January 2008, marking the beginning of domestic asset management institutions venturing into international markets [1][2] Regulatory Framework - The regulatory environment for public funds "going global" has been continuously improved, with key policies introduced in 2008, 2018, and 2022 to facilitate overseas operations [3] - As of now, over 20 public fund companies, including Southern Fund and E Fund, have established more than 30 overseas subsidiaries [3] Recent Developments - Xingzheng Global Fund's application to set up a subsidiary in Singapore was recently approved, indicating a continued trend of public funds expanding their international presence [4] - The public fund industry is seen as a crucial participant in promoting high-level financial openness and facilitating the two-way opening of capital markets [4] Product Diversification - The "going global" strategy is becoming essential for public funds, with many institutions forming differentiated strategies, including establishing overseas subsidiaries and expanding QDII (Qualified Domestic Institutional Investor) products [6] - As of June 2025, the total approved QDII quota reached approximately 170.87 billion USD, with 54 public funds having obtained QDII qualifications [6][7] Market Trends - The scale of QDII funds has been steadily increasing, with a total market size of 644.02 billion yuan as of May 2025, reflecting a year-on-year growth rate of 5.35% [7] - The development of QDII products is providing Chinese investors with more diversified investment options and is contributing to the internationalization of China's capital markets [7][8] Future Outlook - Companies are focusing on developing high-quality, low-threshold, and recognizable cross-border products to enhance their global market presence [9] - Xingzheng Global Fund plans to gradually expand its overseas business, including research, investment, and client development in international markets [4][9]
又有公募出海大动作!
Zhong Guo Ji Jin Bao· 2025-06-29 10:46
Core Viewpoint - Xingsheng Global Fund has received approval to establish a subsidiary in Singapore, marking a significant step in the ongoing trend of Chinese public funds expanding overseas [1][2]. Group 1: Company Establishment - The China Securities Regulatory Commission (CSRC) approved Xingsheng Global Fund's application to set up Xingsheng Global Asset Management (Singapore) Co., Ltd. with a registered capital of 10 million Singapore dollars [2]. - The registration of the Singapore subsidiary must be completed within 12 months from the date of approval [1][2]. - The subsidiary will gradually develop its overseas business capabilities in research, investment, and client expansion [1][3]. Group 2: Regulatory Compliance - Xingsheng Global Fund is required to establish a comprehensive foreign exchange asset-liability risk management system and comply with relevant foreign exchange regulations [2]. - The subsidiary is restricted from engaging in non-financial activities and must not conduct lending or similar businesses [2]. Group 3: Industry Context - Since 2008, over 20 Chinese public fund companies have established overseas subsidiaries, with significant presence in Hong Kong, the United States, and Singapore [5]. - Other companies, such as Huatai-PineBridge and Southern Fund, have also received approvals for their Singapore subsidiaries, indicating a broader trend of international expansion among Chinese fund managers [5][6]. - The establishment of overseas subsidiaries is seen as a strategic move to enhance international competitiveness and facilitate capital market connectivity [6].
又有公募出海大动作!
中国基金报· 2025-06-29 10:37
Group 1 - The core viewpoint of the article is that Xingsheng Global Fund has received approval to establish a subsidiary in Singapore, marking a significant step in the company's overseas expansion strategy [2][4][5] - The registered capital for the new subsidiary, Xingsheng Global Asset Management (Singapore) Co., Ltd., is set at 10 million Singapore dollars, and the company must complete its registration within 12 months from the approval date [5][6] - The subsidiary will gradually develop its overseas business capabilities, focusing on market research, investment, and client expansion in international markets [6][8] Group 2 - Since the initiation of overseas expansion by domestic public fund companies in 2008, over 20 firms have established subsidiaries abroad, with notable locations including Hong Kong, the United States, and Singapore [8][10] - Other fund companies, such as Huatai PineBridge and Southern Fund, have also received approvals for their Singapore subsidiaries, indicating a trend of increasing international presence among Chinese fund managers [8][9] - The establishment of overseas subsidiaries is seen as a way to enhance the international competitiveness of Chinese financial institutions and facilitate capital market connectivity [10]
这项业务最赚钱!三大头部公募利润曝光……
券商中国· 2025-03-30 08:18
Core Viewpoint - The article highlights the operational performance of three leading public funds in China: E Fund, GF Fund, and Southern Fund, emphasizing their strategic focus on overseas business expansion as a key driver for growth in net profits and assets under management [1][2][10]. Group 1: Financial Performance - E Fund reported a revenue of 12.11 billion yuan in 2024, a decrease of 3.13% from 2023, with a net profit of 3.9 billion yuan, an increase of 15.33% year-on-year [4]. - GF Fund achieved a net profit of approximately 1.99 billion yuan, with total assets of about 18.45 billion yuan and net assets of around 12.02 billion yuan [4][5]. - Southern Fund's net profit reached 2.35 billion yuan, with total managed assets of 24.70 billion yuan, including 13.19 billion yuan in public fund assets [6]. Group 2: Strategic Focus on Overseas Expansion - The three funds are increasingly focusing on overseas markets to drive their second growth curve, with E Fund and Southern Fund actively pursuing international clients and investments [2][7][9]. - Southern Fund's significant investments in companies like Meitu and Pop Mart, which have shown substantial growth in overseas markets, reflect this strategy [8]. - E Fund's collaboration with Itaú Asset Management in Brazil aims to attract more institutional clients from the region, showcasing its commitment to internationalization [12]. Group 3: Market Trends and Future Outlook - The article notes that the trend of public funds expanding overseas is becoming a critical measure of their strength and growth potential, aligning with China's broader capital market opening [11]. - The regulatory environment is supportive of this trend, with initiatives aimed at enhancing cross-border investment opportunities [11]. - The focus on overseas markets is seen as a response to the need for public funds to avoid excessive competition domestically and to tap into new growth opportunities [13].